Weiss Ratings, an independent rating agency of financial institutions, said it will issue letter grades on cryptocurrencies on January 24.
The first Weiss Cryptocurrency Ratings will be based on a model that analyzes thousands of data points on each coin's technology, usage, and trading patterns, the agency said in a statement.
“Many cryptocurrencies are murky, overhyped and vulnerable to crashes. The market desperately needs the clarity that only robust, impartial ratings can provide,” said Weiss Ratings founder, Martin D. Weiss, PhD.
“Our ratings are based on hard data and objective analysis. But they're bound to create controversy, including some grades that may come as a surprise to some people,” he added.
According to the agency, the rankings will include Bitcoin (EXANTE: Bitcoin), Ethereum (ETH/USD), Ripple, Bitcoin Cash (EXANTE: Bitcoin.Cash), Cardano, NEM, Litecoin (LTC/USD), Stellar, EOS, IOTA, Dash, NEO, TRON, Monero (XMR/USD), Bitcoin Gold and many others.
Weiss is not the only service providing investment perspective on cryptocurrencies but it is the first more traditional rating firm to enter the space. Founded in 1971, the agency rates 55,000 institutions and investments, and never accepts compensation of any kind from the entities it rates.